Bharti Airtel net profit rises 91.5% YoY in December 2022 quarter to Rs. 1,588 crore

On 7 February , 2023 Bharti Airtel reported a 91.5% YoY rise in net profit for December quarter to Rs. 1,588 crore .

The statement by company said , “ It’s consolidated net income (after exceptional items) stood at Rs. 1,588 crore for the just ended quarter , translating into an increase of 91.5% YoY . The consolidated net income (before exceptional items) at Rs. 1,994 crore , was up by 147% YoY .”

The company stated that the revenue from operations increased by 20% YoY to Rs. 35,804 crore . According to the company the net profit is lower than the average estimate of Rs. 2,673 crore but their revenue was higher than the estimated Rs. 35,299 crore .

The total expenses in Q3 rose to Rs. 17,351 crore which was earlier Rs. 15,164 crore . Spectrum usage charges in the quarter increased by 4% YoY to Rs. 2,842 crore but were down 4% sequentially .

Due to moderate tariff hikes , the average revenue per user or ARPU was at Rs. 193 in third quarter which was Rs. 190 a year ago . The Airtel business revenue increased 16.4% YoY , backed by robust demand for data and connectivity – related solutions as well as emerging adjancies . The broadband business grew nearly 30% YoY along with the addition of strong customers .

Managing Director of Bharti Airtel , Gopal Vittal stated , “ We have delivered another quarter of consistent and competitive growth across all our businesses . Revenue grew sequentially by 3.7% , while EBITDA margin expanded to 52% . Our strategy of winning quality customers has helped us add 6.4 million 4G customers and exit the quarter with an industry – leading ARPU of Rs. 193 . Our 5G rollout is on track to cover all towns and key rural areas by March 2024 . “

The company also said that it’s mobile data consumption increased 22.5% on YoY basis to 20.3 GB per customer per month .

The Indian business posted an EBITDA (earning before interest , taxes , depreciation and amortization )  of Rs. 13,167 crore and margins expanded 299 bps to 52.7% . The business also posted quarterly revenue of Rs. 24,962 crore up 19.4% YoY .

“Postpaid , enterprise , homes as well as Africa business sustained their momentum while the DTH business showed signs of growth in an industry that continues to be under pressure.” said Vittal